Archive | June, 2007

Buy : Tamil Nadu Newsprint and Paper Ltd (TNPL) for target of Rs 135

Tamil Nadu Newsprint and Paper Ltd (TNPL) posted a 10.2% increase in revenue for FY07 to Rs 854.84 crore, exceeding our target. However, profitability grew only 6.8% to Rs 86.06 crore

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IPO Note : Spice Communications

Spice Telecom plans to dilute 20 per cent equity through an initial public offer to raise $250-300 million by the end of the year. This was disclosed here on Monday by the company Chairman, Dilip Modi, who said the IPO would be followed by a second round of funding of $350 million over the next […]

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Buy: Sangam (India) CMP: Rs 64 with a Target of : Rs 95

Sangam ( India ) has entered into a strategic supply agreement with Portugal- based Riopele Texteis, a leading global manufacturer of value-added polyester- viscose yarn and fabric. Under the agreement, Sangam will manufacture high- end lycra fabric using Riopele’s technological expertise, and supply the same to Riopele. We expect Sangam to supply 5mn mt of […]

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Buy: Garware Offshore (GOSL) CMP: Rs 214 Target: Rs 272

Garware Offshore Services (GOSL) continues to expand aggressively, recently acquiring a new build platform supply vessel (PSV) for US$ 22.8mn. We expect GOSL to almost double its fleet size from the existing seven vessels (including the recent acquisition) in the next couple of years to capture the booming opportunities in the offshore service arena. The […]

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Company Update: Tantia Constructions (TCL)

Tantia Constructions (TCL) has established expertise in infrastructureconstruction with a diversified presence in railways, roads, marine activity, urban development and power, among others. At the current price of Rs 111, TCL is trading at 13.6x on FY07 EPS of Rs 8.2. We are positive on the stock from a long-term perspective for the following reasons: […]

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Buy: Sasken Communication Technologies CMP: Rs 505 with Target: Rs 647

Sasken Communication Technologies’ FY07 Annual Report reiterated the company’s resolve to pursue the hybrid business model of offshored R&D services and intellectual property (IP) based products. Though the contribution of products to revenues declined further in FY07, the management is upbeat about the future prospects of its products business. FY07 in particular has been an […]

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